If the Price of a Good Increases and the Total

question 200

Multiple Choice

If the price of a good increases and the total revenue also increases, the good has a(n)

• A) elastic demand.
• B) inelastic demand.
• C) unit elastic demand.
• D) perfectly elastic demand.

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Definitions:

Civil Rights

The rights of citizens to political and social freedom and equality, often associated with movements to end discrimination and promote equal protection under the laws.

Underwood Tariff

A 1913 U.S. law that significantly lowered tariffs on imported goods for the first time since the Civil War and implemented an income tax following the ratification of the 16th Amendment.

Tariff Rates

Taxes imposed by a government on imported or exported goods.

Independent Commission

An autonomous body established to investigate, analyze, or oversee specific issues or areas, often governmental or industry-related, without bias.